Again, we see this new activity as meritless intimidation, and there will be no financial reward for those bringing frivolous claims. Appraisers are doing their job. And, if their appraisals are a bit more conservative than a few years ago, they cannot be blamed for that. This is the net result of a deflated bubble, markets continuing to decline, new appraisal rules, and the thousands of lawsuits and state board complaints filed against appraisers by irresponsible lenders and borrowers for allegedly overvaluing properties before the downturn. Given this, it really is unbelievable to hear NAR's economist du jour Larry Yun complain about appraisers being too conservative in their values, as has been widely reported.
You can't change a leopard's spots.
